Guidewires sales are poised to grow at 6.5% y-o-y in 2021, subsequent to an ambiguous year in 2020. Demand is primarily bolstered by increase in acceptance of minimally invasive surgeries, together with technological progression in surgical procedures. Fact.MR, a global research & consulting firm, in the updated edition of the report, states a steady growth rate amid the assessment period, 2020-2025.

For detailed insights on enhancing your product footprint, request for a sample here- https://www.factmr.com/connectus/sample?flag=S&rep_id=4682

Technological advancement in surgical and diagnostic equipment will offer lucrative growth prospects for minimally invasive surgeries, eventually boosting demand for guidewires. Furthermore, favourable reimbursement policies implemented by government authorities will encourage the usage of guidewires”, says Fact.MR.

Need for Diverse Oxygen Supply Technologies

Pervasiveness of cardiovascular ailments increases with age, is anticipated to surge the demand for guidewires in surgical interventions. Therefore, surging geriatric population is one of the prominent drivers for the market.

Furthermore, adoption of unhealthy lifestyles such as sedentary work life, lack of physical activities, high tobacco and alcohol consumption, and higher consumption of saturated sugars and fats are increasing amid the adult population. These aspects increases the threat of chronic ailments such as cardiovascular ailments, diabetes, and obesity, which may prompt surgical interventions with a disease progression. Thus, increasing burden of chronic conditions is likely to boost the market over the assessment period.

Need more information about Report Methodology? Click here-  https://www.factmr.com/connectus/sample?flag=RM&rep_id=4682

How Growing Coronary Disease Incidence is Steering the Market Forward

The coronary guidewires shall remain lucrative owing to the increase in occurrences of coronary ailments. A substantial number of admissions in the hospital of atherosclerosis patients is mainly contributing to the segment’s growth. The segment is anticipated to expand at a CAGR of about 7% in 2021, account for two-fifth of the overall share during 2020-2025.

On the other hand, the urology guidewires will register a CAGR of around 7.3% in 2021. This is due to pervasiveness of chronic kidney dysfunctions along with usage of dialysis catheters that will fuel the segment’s growth. Additionally, urology guidewires provides an atraumatic hydrophilic tip that provides negotiating constricted areas. Urology guidewires will attain around 15% of the overall share.

US Accounts for Nearly 40% Guidewires Market Share

The US is slated to remain lucrative in the approaching years. As per Fact.MR’s analysis, high prevalence of urological and cardiovascular ailments, together with cutting-edge healthcare infrastructure and the existence of various guidewire market players are attributed as significant growth drivers. A market share of around 2/5th is projected for the region, growing by 50% amid the projected period.

Furthermore, untapped prospects in the emerging nations such as India and China are further driving the market. In addition to India and China, market in Japan and South Korea is also set to grow at a steady pace through 2030. The APAC region is anticipated to record a CAGR of 7.5% in 2021.

Growth of businesses in developing countries propelled by increasing incidences of health problems, importing high quality guidewire brands, economic development along with favourable government policies shall encourage the region’s growth and facilitated business operations by leading players, says Fact.MR.

Constant Product Innovation Remain Significant Focus Areas: Fact.MR Survey

Guidewires market remains fragmented, with key four players holding over 50% of market share. Fact.MR’s survey with thought leaders discovered that expansion of product portfolio and offering enhanced patient comfort as lubricous coating will remain a key strategy for leading players in 2021 & beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. A few of the players profiled in the report are Terumo Medical Corporation, Abbott Laboratories, Integer Holdings Corporation, Olympus Corporation Boston Scientific Corporation, and Cardinal Health. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.

Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/4682/S

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here